Covid fallout: ShareChat lays off 101 employees as pandemic hits business plans

Regional language social media company ShareChat is laying off 101 employees amid market uncertainties due to COVID-19 pandemic. In an email to employees, the Twitter-backed platform outlined steps it is taking to “become leaner and position the company better for the future”. “We would be saying goodbye to 101 of our ShareChatwasis today…This is a very tough call for us. I hope you understand that we had to do it for the organization to sustain and see it through to the other side of this pandemic,” Ankush Sachdeva, co-founder and CEO of ShareChat, said.

In the past few weeks, a number of tech-led businesses like Uber, Zomato and Swiggy have announced layoffs as the COVID-19 pandemic and lockdown dried up demand and ravaged businesses. Earlier on Wednesday, cab aggregator Ola had said it is laying off 1,400 staff from rides, financial services and food business as revenues declined by 95 per cent in the last two months due to coronavirus pandemic.